India revises steel production target upwards

The Indian government has announced an upward revision of the steel production target set out in its National Steel Policy (NSP), due to the recent steel capacity expansions announced and MoUs signed in the country. The NSP has determined India's new steel production capacity target at 80 million mt of steel by 2011-12, as opposed to the previous target of 65 million mt of steel within the same period. India's crude steel production stood at 41.2 million mt in 2005-2006. “The scenario in the sector has changed dramatically in the last two years. Demand in the domestic market has increased but there is still a lot of potential for future growth”, commented India's Minister of Steel Mr. Ram Vilas Paswan.